Indian Navy Day 2022: Defence purchases via GeM portal from MSMEs near Rs 42,000 crore | The Financial Express

Indian Navy Day 2022: Defence purchases via GeM portal from MSMEs near Rs 42,000 crore

Ease of doing business for MSMEs: According to GeM, the gross merchandise value of Rs 15,039 crore achieved in 12 months in the last fiscal has already been done in eight months of the current FY.

Indian Navy Day 2022: Defence purchases via GeM portal from MSMEs near Rs 42,000 crore
The Ministry of Defence has initiated the process of purchasing 120 Fast Interceptor Crafts for the Indian Navy. (Representational image)

Ease of doing business for MSMEs: Purchase of products and services by the Defence Ministry including the Indian Navy from the government’s e-commerce portal GeM (Government e-Marketplace) stood at Rs 41,936 crore as of December 3, 2022, GeM tweeted on Sunday commemorating Indian Navy Day. “It is an honour for GeM to be of service to the Indian Navy as they serve the nation. Keep procuring more from GeM!” 

India celebrates its Navy Day on December 4 to commemorate the launch of `Operation Trident’ during the 1971 India-Pakistan war and the navy’s achievements. 

Meanwhile, defence purchases from GeM during the eight months of the current fiscal had surpassed the FY22 procurement level. According to GeM, the gross merchandise value of Rs 15,039 crore achieved in 12 months in the last fiscal has already been done in eight months of the current FY. 

Launched in 2016, GeM’s MSME vendors supplying to the defence ministry grew to 10,506 till Q2 FY20 from 8,643 in FY19, and 7,591 in FY18, according to the data shared by the former MSME Minister Nitin Gadkari in Rajya Sabha in March 2020. By December 2021, the vendor count increased to 12,000. Defence purchases in FY19 stood at Rs 4842.92 crore and Rs 5463.82 crore in FY21.

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In November, GeM also achieved overall Rs 1 lakh crore GMV feat within eight months (from April 1 till November 29) of FY23 in comparison to Rs 1.06 lakh crore GMV recorded in the entire FY22. Prime Minister Narendra Modi tweeted the achievement on November 29 said, “Excellent news! @GeM_India is a game changer when it comes to showcasing India’s entrepreneurial zeal and furthering transparency. I laud all those who are displaying their products on this platform and urge others to do the same.” 

Currently, 55 lakh sellers are registered on GeM and 64,538 buyers. Over 1.2 crore orders with a transaction value of Rs 3.39 lakh crore have been processed till date, according to GeM data.

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First published on: 04-12-2022 at 17:50 IST